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Bank account and personal information requirements for Shopify Payments in Finland

Before using Shopify Payments in Finland, you need to understand the requirements that are in place to comply with regulations and to prevent financial crimes. This article explains why personal information is collected, the accepted types of documentation, and provides guidance for ensuring that your documentation meets the necessary criteria.

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Requirements for using Shopify Payments in Finland

Before you use Shopify Payments in Finland, ensure that you meet the following requirements:

  • Eligible business types: Certain types of businesses and services aren't permitted to use Shopify Payments. To determine whether your business is eligible, refer to the list of prohibited business types for Finland in the Shopify Payments Terms of Service.
  • Bank account requirements: Your bank account must meet the following requirements before you can connect it to Shopify Payments:
    • The bank account must be in EUR currency.
    • The bank account must be eligible for Single Euro Payments Area (SEPA) transfers.
    • The bank account must have an International Bank Account Number (IBAN) that starts with any of the following country codes: AT, BE, BG, CH, CY, DE, DK, EE, ES, FI, FR, GB, GI, GR, HR, HU, IE, IT, LT, LU, LV, MT, NL, NO, PL, PT, RO, SE, or SI.

Unsupported bank account types

Certain bank account types aren't compatible with Shopify Payments. The following account types aren't supported:

  • Checking accounts that accept only wire transfers: These accounts don't work with Shopify Payments.
  • Savings accounts: Savings accounts can't be used for Shopify Payments payouts.
  • Flex-currency accounts: Accounts that support multiple currencies simultaneously aren't supported.
  • Money transfer services: Services that mimic bank accounts, such as some fintech platforms, can't be used with Shopify Payments.

Although non-Shopify virtual accounts are supported, you can experience more payout failures with these accounts.

To confirm whether your account can accept the transfer type listed for your region, contact your bank.

Purpose of collecting information

Shopify and its banking partners are required to collect and verify information about you and your business to comply with regulations in Finland that are designed to prevent financial crimes. As local rules and regulations evolve, you might be contacted by Shopify and its banking partners to provide additional information throughout the lifespan of your Shopify Payments account.

The information that's collected is used to confirm the identity of the business, the identities of individuals linked to the business, and the nature of the relationship between the two.

Shopify never physically mails documentation to you. Any important documents or communications are emailed, or made digitally available to the store owner in the Settings > Users page of your Shopify admin.

Review Shopify's Privacy Policy to learn about how your information is kept confidential and safe.

Required personal and business information for activating Shopify Payments in Finland

You must correctly identify your business type because it determines the information that you need to provide.

If you haven't registered with any government agency, or you have registered but run the business as a private trader (including toiminimi, sole traders, sole proprietors, and the self-employed), then select the Individual / Private trader business type.

If you have registered your business and have a Business ID number (Y-tunnus), then select your business type based on the following guidance:

  • Partnerships with Business ID numbers, such as Ay, Ky, or Osuuskunta, must select the Registered partnership business type.
  • Non-profit organizations with Business ID numbers must select the Incorporated non-profit business type.
  • All other businesses with Business ID numbers, such as Oy or Osk, must select the Private corporation business type.

If you have a registered business, but don't have a Business ID number, then select your business type based on the following guidance:

  • Partnerships without Business ID numbers must select the Unregistered partnership business type.
  • Non-profit organizations and charities who don't have Business ID numbers must select the Unincorporated non-profit business type.

If you're not sure what business type to pick, then contact Shopify Support for help with selecting the right one.

Individuals / Private traders

Individuals are single owner businesses that haven't registered with the government and are doing business privately. Private traders are single owner businesses who are registered with the government under their personal information. Both are businesses that are owned and controlled by one individual living in Finland. This includes freelancers and self-employed small business operators.

These business types are treated the same way and need to provide the same information. Individuals and private traders need to provide:

  • Legal first and last name: Your full legal name as it appears on government-issued documentation.
  • Date of birth: Your birth date.
  • Email address: A valid and active email address.
  • Phone number: A valid and active phone number.
  • Residential address in Finland: Your home address, matching your documentation.

Ensure that your name, date of birth, and home address are accurate and that they match your government-issued documentation. If your information can't be verified, then you're asked to update your name and date of birth to match your documentation, and you might be asked for photo ID. Review the list of acceptable photo ID documents.

If your address can't be automatically verified, then you must upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document, and update the information in your account to match the document. Review the list of acceptable address documents.

Private corporations (Oy, Osk)

A private corporation is a business whose equity is divided into shares, owned by shareholders. A corporation is considered its own legal entity, separate from the people who run it. They typically also have a board of directors.

Private corporations must assign either a beneficial owner or an executive with decision-making power as their account representative. The account representative needs to provide the following information:

  • Legal first and last name: Your full legal name as it appears on government-issued documentation.
  • Date of birth: Your birth date.
  • Email address: A valid and active email address.
  • Phone number: A valid and active phone number.
  • Residential address: Your home address, matching your documentation.
  • Job title: The job title you hold with the business.
  • Equity: If applicable, the equity percentage you own of the business.

Ensure that your name, date of birth, and home address are accurate and that they match your government-issued documentation. If your information can't be verified, then you're asked to update your name and date of birth to match your documentation, and you might be asked for photo ID. Review the list of acceptable photo ID documents.

If your address can't be automatically verified, then you must upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document, and update the information in your account to match the document. Review the list of acceptable address documents.

Private corporations also need to provide the following details about the business:

  • Registered business name: The legal business name as shown in government business registries.
  • Business ID number (Y-tunnus): The business's ID number as shown in government business registries.
  • Value Added Tax (VAT) number: Your VAT registration number, if applicable.
  • Business phone number: An active contact phone number for the business.
  • Business address: The official registered address of the business as shown in government business registries.

Shopify banking partners verify your information by comparing it against government registries in Finland. Ensure that you use the correct letter case, punctuation, and symbols.

If the information that you provide about the business can't be verified, then you might need to provide a business verification document. When providing this document, ensure that the registered name, Business ID number, and business address listed in your account match exactly with the information on the document, and update the information in your account to match the document. Review the list of acceptable business documents.

If you're a beneficial owner of the company, then you also need to list any other people who are beneficial owners. Ensure you enter their names, dates of birth, and home addresses exactly as shown on their government documents. If their identities can't be verified automatically, then they might need to provide photo ID or proof of address.

Registered partnerships (Ay, Ky, Osuuskunta)

A registered partnership is a business owned by at least two partners, who have registered for commercial activity and obtained a Business ID number. Registered partnerships have equity, and the partnership is its own entity, separate from the owners.

Registered partnerships must designate an owner or partner as the account representative of their Shopify Payments account. The account representative needs to provide the following information:

  • Legal first and last name: Your full legal name as it appears on government-issued documentation.
  • Date of birth: Your birth date.
  • Email address: A valid and active email address.
  • Phone number: A valid and active phone number.
  • Residential address: Your home address, matching your documentation.
  • Job title: The job title you hold with the business.
  • Equity: If applicable, the equity percentage you own of the business.

Ensure that your name, date of birth, and home address are accurate and that they match your government-issued documentation. If your information can't be verified, then you're asked to update your name and date of birth to match your documentation, and you might be asked for photo ID. Review the list of acceptable photo ID documents.

If your address can't be automatically verified, then you must upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document, and update the information in your account to match the document. Review the list of acceptable address documents.

Registered partnerships also need to provide the following details about the business:

  • Registered business name: The legal business name as shown in the commercial court register.
  • Business ID number (Y-tunnus): The business's ID number as shown in the commercial court register.
  • Value Added Tax (VAT) number: Your VAT registration number, if applicable.
  • Business phone number: An active contact phone number for the business.
  • Business address: The official registered address of the business as shown in the commercial court register.

Shopify banking partners verify your information by comparing it against government registries in Finland. Ensure that you use the correct letter case, punctuation, and symbols.

If the information that you provide about the business can't be verified, then you might need to provide a business verification document. When providing this document, ensure that the registered name, Business ID number, and business address listed in your account match exactly with the information on the document, and update the information in your account to match the document. Review the list of acceptable business documents.

If you're an owner or partner, then you also need to list any other people who are owners and/or partners. Ensure you enter their names, dates of birth, and home addresses exactly as shown on their government documents. If their identities can't be verified automatically, then they might need to provide photo ID or proof of address.

Unregistered partnerships

An unregistered partnership is a business owned by at least two partners, who haven't registered for a Business ID number, but who have a partnership agreement. The owners are considered the legal entity in this case, and the business is not a separate entity.

Unregistered partnerships must designate an owner as the account representative of their Shopify Payments account. The account representative needs to provide the following information:

  • Legal first and last name: Your full legal name as it appears on government-issued documentation.
  • Date of birth: Your birth date.
  • Email address: A valid and active email address.
  • Phone number: A valid and active phone number.
  • Residential address: Your home address, matching your documentation.
  • Job title: The job title you hold with the business.
  • Equity: If applicable, the equity percentage you own of the business.

Ensure that your name, date of birth, and home address are accurate and that they match your government-issued documentation. If your information can't be verified, then you're asked to update your name and date of birth to match your documentation, and you might be asked for photo ID. Review the list of acceptable photo ID documents.

If your address can't be automatically verified, then you must upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document, and update the information in your account to match the document. Review the list of acceptable address documents.

Unregistered partnerships also need to provide the following details about the business:

  • Registered business name: The legal business name as shown on documentation.
  • Value Added Tax (VAT) number: Your VAT registration number, if applicable.
  • Business phone number: An active contact phone number for the business.
  • Business address: The official registered address of the business as shown on documentation.

Shopify banking partners verify your information by comparing it against government registries in Finland. Ensure that you use the correct letter case, punctuation, and symbols.

If the information that you provide about the business can't be verified, then you might need to provide a business verification document. When providing this document, ensure that the registered name and business address listed in your account match exactly with the information on the document, and update the information in your account to match the document. Review the list of acceptable business documents.

If you're an owner or partner, then you also need to list any other people who are owners and/or partners. Ensure you enter their names, dates of birth, and home addresses exactly as shown on their government documents. If their identities can't be verified automatically, then they might need to provide photo ID or proof of address.

Incorporated non-profits

A non-profit (NPO) is an entity that's established for purposes other than generating profit for its shareholders. Its primary mission is to serve a public or community benefit. Incorporated non-profits have registered for commercial purposes and obtained a Business ID number.

Incorporated non-profits must assign either a director or an executive with decision-making power as their account representative. The account representative needs to provide the following information:

  • Legal first and last name: Your full legal name as it appears on government-issued documentation.
  • Date of birth: Your birth date.
  • Email address: A valid and active email address.
  • Phone number: A valid and active phone number.
  • Residential address: Your home address, matching your documentation.
  • Job title: The job title you hold with the business.
  • Equity: If applicable, the equity percentage you own of the business.

Ensure that your name, date of birth, and home address are accurate and that they match your government-issued documentation. If your information can't be verified, then you're asked to update your name and date of birth to match your documentation, and you might be asked for photo ID. Review the list of acceptable photo ID documents.

If your address can't be automatically verified, then you must upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document, and update the information in your account to match the document. Review the list of acceptable address documents.

Incorporated non-profits also need to provide the following details about the business:

  • Registered business name: The legal business name as shown in the commercial court register.
  • Business ID number (Y-tunnus): The business's ID number as shown in the commercial court register.
  • Value Added Tax (VAT) number: Your VAT registration number, if applicable.
  • Business phone number: An active contact phone number for the business.
  • Business address: The official registered address of the business as shown in the commercial court register.

Shopify banking partners verify your information by comparing it against government registries in Finland. Ensure that you use the correct letter case, punctuation, and symbols.

If the information that you provide about the business can't be verified, then you might need to provide a business verification document. When providing this document, ensure that the registered name, Business ID number, and business address listed in your account match exactly with the information on the document, and update the information in your account to match the document. Review the list of acceptable business documents.

If you're on the board of directors, then you also need to list any other people who are on your board of directors or who are key decision makers. Ensure you enter their names, dates of birth, and home addresses exactly as shown on their government documents. If their identities can't be verified automatically, then they might need to provide photo ID or proof of address.

Unincorporated non-profits

A non-profit (NPO) is an entity that's established for purposes other than generating profit for its shareholders. Its primary mission is to serve a public or community benefit. An unincorporated non-profit doesn't have a Business ID number, but has registered with local courts and has non-profit status.

Unincorporated non-profits must assign a key decision maker or organizer as their account representative, and mark that person as an executive. The account representative needs to provide the following information:

  • Legal first and last name: Your full legal name as it appears on government-issued documentation.
  • Date of birth: Your birth date.
  • Email address: A valid and active email address.
  • Phone number: A valid and active phone number.
  • Residential address: Your home address, matching your documentation.
  • Job title: The job title you hold with the business.
  • Equity: If applicable, the equity percentage you own of the business.

Ensure that your name, date of birth, and home address are accurate and that they match your government-issued documentation. If your information can't be verified, then you're asked to update your name and date of birth to match your documentation, and you might be asked for photo ID. Review the list of acceptable photo ID documents.

If your address can't be automatically verified, then you must upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document, and update the information in your account to match the document. Review the list of acceptable address documents.

Unincorporated non-profits also need to provide the following details about the business:

  • Registered business name: The legal business name as shown on documentation.
  • Value Added Tax (VAT) number: Your VAT registration number, if applicable.
  • Business phone number: An active contact phone number for the business.
  • Business address: The official registered address of the business as shown on documentation.

Shopify banking partners verify your information by comparing it against government registries in Finland. Ensure that you use the correct letter case, punctuation, and symbols.

If the information that you provide about the business can't be verified, then you might need to provide a business verification document. When providing this document, ensure that the registered name and business address listed in your account match exactly with the information on the document, and update the information in your account to match the document. Review the list of acceptable business documents.

If you're on the board of directors, then you also need to list any other people who are on your board of directors or who are key decision makers. Ensure you enter their names, dates of birth, and home addresses exactly as shown on their government documents. If their identities can't be verified automatically, then they might need to provide photo ID or proof of address.

Acceptable document types

This section explains which documents you can use to verify your identity and business details.

Identity documents

The name and date of birth on your Shopify Payments account must be updated to match the information shown in the identity document that you're providing. The documents must be valid and must not be expired. For all documents except passports, photographs of both the front and back are required. The following documents are accepted as proof of identity:

  • Passport
  • Driver's license
  • Identity card
  • Residence permit

Address documents

The name and address on your Shopify Payments account must be updated to match the information displayed in the address documents that you're providing. All documents must display an issuance date within the past 6 months. The following documents are accepted as proof of address:

  • Utility bill
  • Internet, cable, or mobile phone bill
  • Financial statement
  • Statement from pension or insurance company
  • Certificate of residence (from todistukset.dvv.fi)
  • Notification of voting rights from Digital and Population Data Services Agency (from suomi.fi)
  • Letter from Tax Administration (such as preliminary tax decision or income tax return)

Business verification documents

The following documents are accepted for business verification. They must clearly display the legal entity name, Business ID number (Y-tunnus), and address of your business. The details on your Shopify Payments account must be updated to match the information displayed in the documents that you're providing:

  • Commercial register extract (Kaupparekisteriote / Utdrag från handelsregister)
  • Trade registration (Kaupparekisteriote / Handelsregistrering)
  • Articles of association (Yhtiöjärjestys / Bolagsordning)
  • Financial statements (Tilinpäätökset / Årsredovisning)
  • VAT registration (ALV-rekisteröinti / Momsregistreringsnummer)

Ensuring documentation compliance

When providing your documents, ensure that they meet the necessary criteria. Review the following guidelines to ensure compliance:

  • Accuracy: Ensure that the information on your documents matches what you've entered in your Shopify Payments account. Update your account to match your documents, if necessary.
  • Clarity and legibility: Make sure that your documents are clear and large enough to read. Ensure the entire document is visible in the photograph.
  • Completeness: Ensure all the necessary details are visible on your document. Review the acceptable document types listed on this page to understand what details must be included on the document.
  • Original documentation: Take an original photograph of your document using a camera. Don't photocopy, scan, or screenshot your documents. Don't paste photos of documents into other documents. Don't take photos of computer screens or printouts.
    • If your document was issued to you digitally, then provide the PDF file with all pages as it was originally given to you, with no alterations.
  • Validity: Ensure photo IDs aren't expired and that proof of address is recently issued. If providing proof of business registration, then your business should still be actively registered and in good standing.

Troubleshooting common issues

Before contacting Shopify Support, review these common onboarding issues and their solutions.

My payment is showing as pending.

Check the order's timeline status to confirm whether the payment was successful. If the payment shows as failed, then this isn't unexpected and can occur for various reasons. You'll need to create a new draft order and send it to your customer to capture the funds.

My customers are experiencing high decline rates when paying in SEK or KR.

If your customers are seeing high decline rates when paying in SEK or NOK/DKK (KR), then try switching your selling currency to EUR.

My payouts are failing with a virtual bank account.

Virtual bank accounts (such as Revolut or Payoneer) are accepted for payouts, but have a higher payout failure rate than traditional bank accounts. For details on supported and unsupported bank account types, refer to the bank account requirements section on this page. For a full list of payout failure reasons and how to resolve them, refer to Failed Shopify Payments payouts.

I can't dispute an iDEAL | Wero transaction.

Customers can't dispute iDEAL | Wero payments with their bank. For full details on how iDEAL | Wero disputes and complaints work, and your responsibilities as a merchant, refer to Customer disputes and complaints on the iDEAL | Wero page.

My document was rejected.

Make sure the information on your account matches the information in the document you're submitting, and update your account to match your documentation if needed. If your documents are still being rejected, then refer to the following sections on this page:

  • Acceptable document types: Which documents are accepted and what details they must include. Screenshots, printouts of online searches, and registry screenshots are not accepted.
  • Ensuring documentation compliance: Requirements for accuracy, clarity, completeness, original documentation, and validity.
My business information isn't being verified.

When entering your business information, ensure that your business name, business ID number, and address match exactly as they appear in the government's business registry. This includes:

  • Correct letter case (uppercase and lowercase)
  • Correct punctuation and spacing
  • Complete business name as registered

Our banking partners verify your information automatically by comparing it against official registries. Even small differences can cause verification to fail. Ensure the documentation you're submitting shows legal name, business ID number, and business address, and that these details match what is shown on your account. Update your account to match your document, if necessary.

My address can't be automatically verified.

If your address can't be automatically verified, then you'll be asked to provide a proof of address document. Proof of address documents must show your full name, home address, and be one of the document types shown here. You should also ensure:

  1. Ensure the address you entered in your Shopify Payments account matches exactly with the address on your proof of address document.
  2. Update your information in your account to match your document if necessary.
  3. Upload a clear photograph of your proof of address document.
  4. Ensure the document you're uploading shows your own full name. If for example, you have a utility bill in someone else's name, you'll need to provide a different document.

Frequently asked questions

Review these frequently asked questions about Shopify Payments requirements in Finland.

Why do you need my photo ID and proof of address if I'm a company, partnership, or non-profit?

Even if you're set up as a company, partnership, or non-profit, Shopify's banking partners are required by regulations in Finland to verify the identities of the people associated with the business, including who they are and where they're located.

I'm a citizen of Finland and was born there, but I don't currently live in Finland. Can I use Shopify Payments in Finland?

If your business type is Individual / Private Trader, then you're required to live in Finland to be eligible for Shopify Payments in Finland. If you don't currently live in Finland, then you should create a Shopify Payments account for the region where you do live.

Update your store address to your current location. If your location is eligible for Shopify Payments, then you can create a Shopify Payments account for that region instead.

If you're a partnership, company, or non-profit, then you're not required to personally live in Finland, but your business must be registered in Finland and have a Finnish business address. If you need help, then contact Shopify Support.

I'm an unregistered partnership in Finland. You're asking for a Business ID number, but I don't have one.

If you're a partnership being asked for a Business ID number that you don't have, then you're set up as the incorrect business type. If you're in the process of setting up the account, then go back to the business type selection screen and select Unregistered partnership.

If you've already set up the account and are being asked for a Business ID number as part of your verification process, then contact Shopify Support for assistance with updating your business type.

I'm a private trader in Finland. Don't you want my business registration or information?

If you're a private trader or sole proprietorship, you only need to provide your personal information for verification. For a complete list of required information, refer to the Individuals / Private traders section on this page.

If you're a private trader or sole proprietorship, then don't attempt to sign up as a different business type. You might have difficulty passing verification.

I'm a publicly traded company in Finland. Which business type should I pick?

You should select Private corporation. For the purposes of business and identity verification, the process for public and privately owned companies is identical.

You can skip the section of the account setup form that asks you to add owners. If you've already set up the account and are being asked for ownership information as part of your verification process, then contact Shopify Support for assistance with updating your business type.

I don't have a Business ID number, but I'm not an individual or private trader. I'm a different kind of business.

If you don't have a Business ID number, then you can only select Unregistered partnership or Unincorporated non-profit as your business type. You still need to provide business documentation that shows your business is registered in Finland.

If neither of these business types fits your business, then you should select Individual / Private Trader and assign a key decision maker or owner as the account representative.

Before you contact Shopify Support about Shopify Payments in Finland

Before reaching out to Shopify Support, gather this information to help resolve your issue faster:

  • Screenshots of any error messages you received (censor sensitive information such as bank account numbers)
  • The business type you selected during setup
  • Your Business Identity Code (Y-tunnus / FO-nummer), if applicable
  • The specific step where you encountered the issue
  • The browser and device you're using
  • Your bank account details (account type, currency) without sharing the full IBAN
  • Any documents you've uploaded and when you uploaded them

Having this information ready helps Shopify Support assist you more efficiently.